Tether has made a significant investment in Malta-based stablecoin firm StablR. This investment comes at a crucial time as Europe prepares to implement its Markets in Crypto-Assets Regulation (MiCA) on December 30, 2024.
Tether has invested in StablR, a Malta-based stablecoin firm that operates two stablecoins: StablR Euro (EURR) and StablR USD (USDR). StablR Euro is pegged to the euro, while StablR USD is pegged to the U.S. dollar. This investment aligns with the evolving regulatory landscape, particularly as MiCA requires stablecoin issuers to comply with strict standards.
Tether's own stablecoin, USDT, is currently facing regulatory scrutiny, and several major exchanges have restricted access to non-compliant stablecoins. In light of this, Tether aims to foster innovation and compliance in the European stablecoin market. To achieve this, StablR will utilize Tether's tokenization platform, Hadron, which facilitates the tokenization of assets and provides compliance tools.
StablR has raised 3.3 million euros in a seed funding round and is preparing to expand the availability of its stablecoins. The collaboration between Tether and StablR highlights the importance of regulatory compliance and the potential for innovation in the stablecoin sector.